THE CO-OPLIFE

ADVANTAGE FUNERAL
INSURANCE
Affordable Family Protection
Insurance
 WHO IS ELIGIBLE TO
•
JOIN?
Members 18-75 years old.
All bona fide members of a Credit Union who have completed one
month of continuous membership are eligible to join the plan.

Members as well as their eligible dependents can apply for

coverage under the plan by answering Four Lifestyle Questions.

Eligible dependents are the lawful or common­lawspouse of the

member up to age 75 and any Children; including adopted and
stepchildren from age 1 to 23.

• Children under 24: Common Law Spouse: Parents no older than

WhyThe Co-opLIFE
Advantage
• 80% of persons within the Credit Union have a Line
Of Credit or a High Debt Service Ratio. On the
death of a family member the Credit Union is
unable to help as lending is determined by
the Credit Committe.
• If Youdon’t have $10,000 or more set aside from
your regular Savings. You will have to decrease
the savings you have sacrificed to save for
such things as retirement, home purchase,
education, etc.

• 65% of all working adults are required to assist with

the Funeral expense of a parent or child. Every
day in Barbados there is a sudden death from
a stroke … no time to say goodbye. We plan
with excitement for House Warming Parties
 GENERAL CONDITIONS
•

Each member who has enrolled in the plan will be provided with a Certificate Of
Membership giving details of who is insured and effective date of insurance
protection.

Premiums are due and payable monthly and in advance.

Initial coverage is for one year; however a member can terminate coverage by giving
one (1) month's notice in writing to GUARDIAN LIFE OF THE CARIBBEAN LIMITED.

One monthly Premium provides insurance protection for up to six immediate family
members.
•
Is Co-opLIFE Advantage
Affordable
HOW MUCH DOES IT
• COST?
 Do I have to do a
Medical Exam?
No, neither you nor your dependants are required to do any medical
•

examinations
•

No, you are only required to answer the four Lifestyle questions
•

relative to yourself and to the best of your knowledge, your family

•

Coverage will be granted if all answers are truthfully answered in the

•

negative (No)
•

Coverage will be declined on any person for whom a positive

•

response (Yes) is given

•

Coverage will be effected on the 1st of the month following the

•

acceptance of the application by Guardian Life

 WHAT ABOUT
• CLAIMS?
There is a waiting period
•

of six (6) months from the

effective date of the
certificate before a claim
can be made.
•

If a death occurs during

•

this period, you have the

option of a refund of
 HOW TO SUBMIT A CLAIM
•
• If a claim occurs after the waiting
period the following documents
should be submitted to Guardian Life
•

Completed claim form

Death certificate
Copy of I.D. card
• Guardian Life will pay all valid claims
within 14 days of receipt of
documentation
• A maximum of six (6) claims will be
paid on a policy
 HOW CAN I PROTECT MY
FAMILY?
•Application forms are available
from Guardian Life of the
Caribbean
• COB/BWU or Public Workers
Credit Union Office
•Submit the following documents

to your Credit Union

üCompleted application form
üFirst premium payment
üCredit Union standing order
 When Do I get my policy?
•

• This is a group policy and

BCCUL is the owner of the
master policy
• A certificate would be issued
with an effective date of the
first of the month following
the completion of the
application and underwriting
by Guardian Life
• This certificate would be
issued within five working
 Contact Us
• Prudential Financial Sales & Services Inc
• #5 OceanCity, Green Point,St.Philip
• (246)416-9180246
•  
• COB Cooperative Credit Union Ltd
• Lower Broad Street,St.Michael
• Phone:246-436-4745
•  
Barbados Public Workers Cooperative Credit
•

Union
• Belmont Road,St.Michael
• Phone:246-430-5258.
•